Examining the Pros and Cons of In-House Accounting
Finance and accounting are the backbone of any business. Ironically, most organizations face a tough time filling up finance positions. Many business owners get in two minds when it comes to hire accounting professionals- should we hire or outsource? Though accounting professionals can be hired through accounting recruiters in Dallas and elsewhere, an employer need to learn the finer lines of hiring and maintaining an in-house accounting team. Continuing the discussion, the blog post discusses the pros and cons of the proposition. Take a look.
- In-house accounting is beneficial for your business, if you have specialized and specific accounting needs that require a dedicated workforce.
- If you have an in-house accounting team, you are free to decide their tasks according to particular accounting needs, which is otherwise, not possible in outsourcing.
- Depending on the progress of your business, your accounting needs are bound to change or expand. If you have an in-house accounting team, you can always train them for specific accounting roles, without running from pillar to post for specialized accounting professionals.
- As a business, you will always be in-charge of your accounting team and in-house people are always more trustworthy than outsiders. You can be rest-assured that sensitive financial information is going to stay within the four walls.
- At one time, your in-house accounting team will be flooded with tasks; however, quiet periods pose a challenge of ineffective resource utilization and higher costs.
- As accounting is critical to business operations, hiring a resource with basic accounting skills may not be effective for complex accounting situations. On the other hand, you can get seasoned accounting professionals by outsourcing the bookkeeping operations.
- Managing a full-time accounting team requires your business to provide them a monthly, dedicated compensation, perks and allowances. Additionally, you also need to bear the licensing cost of the accounting software they will be using.
- New accountants may take their own time in getting accustomed to your business operations before managing bookkeeping, that may impact cost functions of your business.
- If a dependable employee calls it quits, it may take some time to find an effective replacement through accounting recruiters in Dallas or elsewhere in the US.
Hiring Accounting Professionals
- Whether you decide to hire an in-house accounting team or outsource the bookkeeping operations, you will probably be looking for top-notch accounting skills. If you are taking the in-house route, here are few tips that can help in the recruitment process:
- Any extra knowledge should always be appreciated. If a candidate has an additional knowledge apart from basic bookkeeping operations such as managerial accounting, budgeting and financing; they are worth giving a shot.
- Try to assess whether the candidate is able to understand your business and related financial functions. Start with basic accounting questions to judge entry-level knowledge and gradually progress to real-world, scenario based accounting questions.
- Never hesitate to ask for recommendation letters from previous company, and proof of last held designation. Additionally, check whether they have the required certifications and accounting experience to justify the current role in your company.
The Bottom line
Before taking the final call on in-house accounting or outsourcing, you need to be aware of the complexity and volume of the financials in your business operations. If you have a bulk of accounting work that requires constant attention, hiring in-house accountants is a smart move; however, you can also be better off with outsourcing or contractual staff for seasonal requirements. If you are looking for full-time or contractual accounting staff, accounting recruiters at Delta Dallas can help. We have an extensive recruitment database with seasoned accounting professionals to assist your financial operations. To learn more about our recruitment services, give us a call at (972) 788-2300 or fill out our contact form and we will get back to you, shortly.